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    Julie ann Ybanez
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    Problems

    Uploaded by

    Julie ann Ybanez

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Problems

    The equation for a demand curve is P=48–3Q. What is the elasticity in moving from a quantity of 5 to a
    quantity of 6?

    The equation for a demand curve is P = 2/QP=2/QP, equals, 2, slash, Q. What is the elasticity of demand
    as price falls from 5 to 4? What is the elasticity of demand as the price falls from 9 to 8? Would you
    expect these answers to be the same?

    The equation for a supply curve is 4P = Q4P=Q4, P, equals, Q. What is the elasticity of supply as price
    rises from 3 to 4? What is the elasticity of supply as the price rises from 7 to 8? Would you expect these
    answers to be the same?

    The equation for a supply curve is P=3Q–8. What is the elasticity in moving from a price of 4 to a price of
    7?

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